Building a Home on a Budget

by Linku2 Limited27 June 2012
Update: 09 September 2018

How often do you hear of the nightmares experienced by those who build their own property about budget blowout and the stress of extra costs and over spending.
Everybody has some sort of budget in mind when they plan to build and here are a few tips to keep in mind if you are limited and would like to maximise what you can get for those tighter budget costs.

1. Consider the size of the house you need. Smaller houses are cheaper to build but don’t cut back too far. If you are a young couple do take into consideration the number of children you might like to have, if you have family living overseas also take into consideration if they visit and you have three children how practical will it be. If this is a first time home and investment for you these matters may not be relevant but do keep in mind
2. Collect estimates early. Before you are even too far into the planning process start gathering estimates. While these will only be rough guides there’s no point in going down the track saying you want underfloor heating if your budget simply won’t stretch that far.
3. Make the shape of your building simple. Angles, corners, rounded edges will all add to the building costs
4. Consider what services you can complete yourself. This may include gib stopping, painting, curtain making and often certain types of flooring which can be laid with a little instruction
5. Shop around for your materials and services. Be prepared to negotiate, you may not get a discount on that oven or dishwasher but at the very least you might get a free toaster or a year supply of dishwasher tablets! Consider clearance stores or seconds as often this can save you lots of money and the flaw may be hidden in your layout
6. Consider package lots or basic finishes. Fixtures, taps and tops can always be upgraded later once you have more money. Consider open shelving which can be replaced later
7. Consider recycled materials and estate auctions. Items can add character to your place and if you change your mind they can always be replaced when the budget has grown again
8. Landscaping can be done on a budget. Level the land, grass your lawn and you can add your exterior design and flower beds later
Whilst you might be building on a budget do consider your expenses down the track. It is worth putting greater emphasis on the basic building blocks of your home including energy saving heating options, water conservation and ventilation and, yes, it is wise to have a Plan B if you find your costs are spiralling out of control!